The Board is guided by the Corporation’s mission and vision in the fulfilment of its functions. The Board conducts a review of the Company’s vision and mission, strategies and corporate governance practices on an annual basis and provides for necessary improvements. In line with this, the Board also ensures the adequacy of internal controls and risk management practices, accuracy and reliability of financial reporting, and compliance with applicable laws and regulations together with the implementation of the Company’s Code of Ethics.
The Board is composed of nine (9) members (each a “member” or “director”), more than 50 percent of whom are independent and/or non-executive directors. Independent directors may serve for a period of not more than nine (9) years.
Independent directors may serve for a period of not more than nine (9) years.
To view the Board of Directors Charter, click on the link :
Profile of Members
JAIME AUGUSTO ZOBEL DE AYALA, Filipino, 65
Non-Executive Director of ALI since June 1988, Chairman of the Board since October 21, 2022
Committee Membership:
Chairman of Executive Committee
Skills and experience:
He is the Chairman of Ayala Corporation (AC) since April 2006 and Director of Ayala Corporation since May 1987. He was the Chief Executive Officer of AC from 2006 to April 2021. He is the Chairman of AC Energy and Infrastructure Corporation (formerly AC Energy, Inc.) and Asiacom Philippines, Inc. Outside the Ayala group, he is a member of various business and socio-civic organizations in the Philippines and abroad. He is a Director of Temasek Holdings (Private) Limited, and a member of JP Morgan International Council, JP Morgan Asia Pacific Council, and LeapFrog Investment’s Global Leadership Council. He sits on various advisory boards of Harvard University, including the Global Advisory Council, and he previously served as the Chair of the HBS Asia-Pacific Advisory Board. He is Chairman Emeritus of the Asia Business Council, a Trustee of Endeavor Philippines, the Philippine Representative to the Asia Pacific Economic Cooperation Business Advisory Council from 2010-2015, a Steering Committee Member and Steward of the Council for Inclusive Capitalism, and a Trustee Emeritus of Eisenhower Fellowships. He has been a director of the US-Philippines Society since 2012 and assumed the Co-Chair position in 2024. He is a Steering Committee member of the Indo-Pacific Partnership for Prosperity. He was awarded the Presidential Medal of Merit in 2009, the Philippine Legion of Honor with rank of Grand Commander in 2010, and the Order of Mabini with rank of Commander in 2015 by the President of the Philippines. In 2017, he was recognized as a United Nations Sustainable Development Goals Pioneer for his work in sustainable business strategy and operations. The first SDG Pioneer from the Philippines, he was one of 10 individuals recognized for championing sustainability and the pursuit of the 17 SDGs in business. He received his BA in Economics (with honors) from Harvard University in 1981, MBA from the Harvard Graduate School of Business Administration in 1987, and Honorary Degree of Doctorate in Management from Asian Institute of Management in 2024.
Directorship in other publicly listed companies:
Chairman of the Board of Ayala Corporation, Globe Telecom, Inc. and Bank of the Philippine Islands
CEZAR P. CONSING, Filipino, 65
Non-Executive Director and Vice Chairman of ALI since April 26, 2023
Committee Membership:
Skills and experience:
He has been the President & CEO of Ayala Corporation since September 27, 2022, and has served as a Director since December 3, 2020. He has been a member of the Ayala Group Management Committee since April 2013. In addition, he holds various positions in the Ayala Group’s unlisted companies, including Chairman of AC Logistics Holdings Corporation, AC Infrastructure Holdings Corporation, AC Industrial Technology Holdings, Inc., AC Ventures Holding Corp., and AC Mobility Holdings Incorporated. He is also the Vice Chairman of AC Energy and Infrastructure Corporation and Ayala Healthcare Holdings, Inc., and serves as a Director of Asiacom Philippines, Inc. and ACEN International, Inc. He is the Chairman of the Philippine Dealing System and the College of St. Benilde. He is a member of the Trilateral Commission and serves on the boards of trustees for the Philippine-American Educational (Fulbright) Foundation, the Philippines-Japan Economic Cooperation Committee, and the Manila Golf Club Foundation. Mr. Consing was President & CEO of Bank of the Philippine Islands from 2013-2021. He was a Partner & Co-Head for Asia of the Rohatyn Group from 2004 to 2013. He was an investment banker with J.P. Morgan & Co. from 1985-2004. For seven years, Mr. Consing was the Head or Co-Head of Investment Banking for Asia Pacific and President of J.P. Morgan Securities Asia. He worked for Bank of the Philippine Islands from 1981 to 1985. Mr. Consing has previously served as Chairman and President of the Bankers Association of the Philippines, President of Bancnet, and Chairman of the National Reinsurance Corporation. He has previously served as an independent director of Jollibee Foods Corporation, CIMB Group Holdings Berhad and First Gen Corporation. He served as a board director of the Asian Youth Orchestra, the US-Philippines Society, La Salle Greenhills, Endeavor Philippines, and International Care Ministries. Mr. Consing received an A.B. Economics degree (Accelerated Program), Magna Cum Laude, and the gold medal for Economics, from De La Salle University, Manila, in 1979. He obtained an M.A. in Applied Economics from the University of Michigan, Ann Arbor, in 1980.
Directorship in other publicly listed companies:
Chairman of the Board ACEN CORPORATION, Vice Chairman of the Board of the Bank of the Philippine Islands and Globe Telecom, Inc.
ANNA MA. MARGARITA B. DY, Filipino, 55
Director, President and Chief Executive Officer since October 1, 2023
Committee Membership:
Skills and experience:
She has been a member of the Management Committee of ALI since August 2008. She was an Executive Vice President of ALI from January 1, 2023, to September 30, 2023, and was a Senior Vice President from January 1, 2015, until December 31, 2022. Prior to becoming President, she was the Head of the Residential Business Group of ALI in 2022 and Head of the Malls Group in 2023. Before that, she also headed the Ayala Land Estates Group. Currently, she serves as the Chairman of Amaia Southern Properties, Inc., Ayalaland Premier, Inc., Ayala Land International Sales, Inc., Avida Land Corp., Alveo Land Corp., Avencosouth Corp., Altaraza Development Corporation, Amaia Land, Inc., Amicassa Process Solutions, Inc., Ayala Property Management Corporation, Ayalaland-Tagle Properties, Inc., BGWest Properties, Inc., BGNorth Properties, Inc., Bellavita Land Corp., Cagayan de Oro Gateway Corp., Vesta Properties Holdings, Inc. Portico Land Corp. and Solinea, Inc.; Vice Chairman of Aurora Properties, Inc., CECI Realty, Inc., and Ayala Greenfield Development Corporation; President of AKL Properties, Inc.; President and Chief Executive Officer of Fort Bonifacio Development Corporation and Makati Development Corporation; and Director of Accendo Commercial Corp., ALI Eton Property Development Corporation, Berkshires Holdings, Inc., Bonifacio Land Corporation, Columbus Holdings, Inc., Emerging City Holdings, Inc., Nuevocentro, Inc., Serendra, Inc. and Alveo-Federal Land Communities Inc. She started her career in IBM, Bain and Benpres Holdings and obtained an AB in Economics degree from Ateneo de Manila, a Master of Science in Economics from London School of Economics and a Master in Business Administration from Harvard Business School.
Directorship in other publicly listed companies:
Chairman of the Board of AREIT, Inc. and AyalaLand Logistics Holdings Corp.
FERNANDO ZOBEL DE AYALA, Filipino, 63
Non-Executive Director since April 25, 2024
Committee Membership:
Skills and experience:
Prior to his election in April 2024, he was an adviser to the Board of Directors of ALI from February 21, 2023 to April 24, 2024 and served as its Chairman of the Board from 1999 to September 2022. He previously served as the AC’s Director from May 1994 to September 12, 2022. He was the President and COO of AC for 15 years, before assuming the role of CEO until September 12, 2022. He currently serves as Chairman of the Board at AC Health, Director of Bank of the Philippine Islands, and as a Special Advisor to the Board of Ayala Land Inc. He serves as Independent Director of Shell Pilipinas Corporation, Chairman of Accendo Commercial Corp., Alabang Commercial Corp.; and Vice Chairman of Fort Bonifacio Development Corporation, AKL Properties, Inc., and Bonifacio Art Foundation, Inc. He also serves on several civic boards and advisory groups including as Chairman of Ayala Foundation and Hero Foundation, member of the Board of Trustees of Georgetown University, Caritas Manila, Pilipinas Shell Foundation, and Asia Society. He is also a member of the Asia Philanthropy Circle, The Metropolitan Museum International Council, TATE Asia Pacific Acquisitions Committee and Habitat for Humanity International’s Asia Pacific Development Council. He holds a liberal arts degree from Harvard College and a CIM form INSEAD, France.
Directorship in other publicly listed companies:
Ayala Corporation and Bank of the Philippine Islands
MARIANA BEATRIZ ZOBEL DE AYALA, Filipino, 36
Director since October 21, 2022 and Senior Vice President since October 1, 2023
Committee Membership:
Skills and experience:
She currently heads its Leasing and Hospitality Group, overseeing Ayala Malls, Ayala Land Offices, Ayala Land Hospitality, and Ayala Land Leisure Estates. Currently, she serves as the Chairman and President of Ayalaland Malls, Inc. (formerly: ALI Commercial Center, Inc.); Vice Chairman of ALI Eton Property Development Corporation; Chairman of Ayalaland Offices, Inc., Chairman of Ayalaland Hotels and Resorts Corp., and Director of Fort Bonifacio Development Corporation, Alabang Commercial Corporation. She also serves as Chairman of Chirica Resorts Corporation, Ten Knots Development Corporation, Lio Resort Ventures Inc., Pangulasian Island Resort Corp., Ten Knots Phils., Inc., Regent Horizons Conservation Company, Inc., Swift Aerodrome Services, Inc., and ALI Capital Corp.; President & Director of Station Square East Commercial Corporation; and, Director of Cagayan de Oro Gateway Corp., Accendo Commercial Corp., and Cebu District Property Enterprise Inc. Aside from her directorships at the Ayala Land Group, Mariana also serves as a Board Director for several Ayala Group companies, such as Ayala Healthcare Holdings, Inc., A&CO Holdings Corporation, ACX Holdings Corporation, ANKO JV Company, Inc., Ayala Group’s ACTIVE Fund, WeAreAyala Business Club, Inc., and BPl’s Asset Management and Trust Company. She was named a board advisor for Asia Partners, a Singapore-based growth equity firm with over USD1 bn in assets under management, focused on enabling the next generation of high-growth technology companies in Southeast Asia. She is also a board director of U-Go, a non-profit organization looking to drive education equality in emerging markets by providing scholarship grants to women in pursuit of a university education. Ms. Mariana Zobel de Ayala previously worked for the Bank of the Philippine Islands (BPI) as a Senior Vice President, leading the development of its marketing and digital platforms for its Consumer Bank. Before this position, she served as the Deputy Head of Ayala Malls and previously worked in project development across Ayala Land. She started working at the Ayala Group as a corporate strategy and business development associate at Ayala Corporation, supporting its portfolio reviews across the conglomerate and business development interests in the healthcare industry. Ms. Zobel de Ayala began her career at J.P. Morgan in New York. She obtained her BA in Social Studies (Philosophy, Politics, and Economics) from Harvard College and an MBA from INSEAD.
Directorship in other publicly listed companies:
Director of AREIT, Inc.
REX MA. A. MENDOZA, Filipino, 62
Independent Director since February 26, 2016
Committee Membership:
Skills and experience:
He was the Lead Independent Director of ALI from July 18, 2017 to April 26, 2023. He is the Chairman of Rampver Financials, a dynamic player in financial services specializing in investments, and one of the biggest distributors of mutual funds in the Philippines. He is the Chairman of the Soldivo Funds and also a director of Esquire Financing, G-Xchange Inc. (GXI or Gcash), Seedbox Technologies, Seven Tall Trees Events Management (The Blue Leaf), The Cullinan Group, Mobile Group Inc. and many other leading companies in different fields. Rex is a member of Bro. Bo Sanchez’ Mastermind Group, and is cited by many as one of the best leadership, business strategy, investments, marketing and sales speakers in the country. He is the author of two books, Trailblazing Success and Firing On All Cylinders, both certified national bestsellers. He served as the President & CEO of Philam Life, one of the country’s most trusted financial services conglomerates and was Chairman of its affiliates and subsidiaries. He was also Senior Adviser to the Chief Executive Officer of the AIA Group. Prior to this, he was previously Senior Vice President and Chief Marketing and Sales Officer of ALI. He was also Chairman of Ayala Land International Sales, Inc., President of Ayala Land Sales, Inc., and Avida Sales Corporation. He has a Master’s Degree in Business Management with distinction from the Asian Institute of Management. He was one of the 10 Outstanding Graduates of his batch at the University of the Philippines where he obtained a BSBA degree with a double major in marketing and finance. He was awarded Most Distinguished Alumnus of the UP Cesar Virata School of Business. He is also a Fellow with Distinction at the Life Management Institute of Atlanta, Georgia, USA, a Registered Financial Planner (RFP) and a four-time member of the Million Dollar Round Table (MDRT). He was a professor of Marketing and Computational Finance at the De La Salle University Graduate School of Business. He taught strategic marketing, services marketing and services strategy. He has served as Chairman of the Marketing Department and was awarded as one of the University’s most outstanding professors.
Directorship in other publicly listed companies:
Independent Director of National Reinsurance Corporation of the Philippines
CESAR V. PURISIMA, Filipino, 64
Independent Director since April 18, 2018
Committee Membership:
Skills and experience:
He is an Asia Fellow of Milken Institute, a global non-profit, non-partisan think tank. He is a founding partner at IKHLAS Capital, a pan-ASEAN private equity platform. He currently serves on the boards of the AIA Group and BPI Capital Corporation, member of the Board of Trustees of International School of Manila and member of the Board of Advisors of ABS-CBN. He is a member of Sumitomo Mitsui Banking Corporation’s Global Advisory Council and Singapore Management University’s International Advisory Council in the Philippines. He is a member of the Bloomberg Task Force on Fisal Policy for Health since 2023. From 2010 to 2016, Purisima was the Secretary of Finance of the Philippines and the Chair of Economic Development Cluster of the President’s Cabinet. He briefly served as Finance Secretary in 2005 and Trade and Industry Secretary from 2004 to 2005. Additionally, he was a member of the Monetary Board. of the Philippines Central Bank, and the Governor for the Philippines at the Asian Development Bank and the World Bank. He served as Alternate Governor for the Philippines at the International Monetary Fund. Under his leadership, the Philippines received its first investment-grade ratings. He was named Finance Minister of the Year seven times in six consecutive years by a number of publications, a first for the Philippines. Prior to his stints in the government service, he was the Chairman & Country Managing Partner of the Philippines’ largest professional services firm SGV & Co., and was a member of the Global Executive Board and Global Practice Council of Ernst & Young. Purisima obtained his Bachelor of Science degree in Commerce Major in Accounting and Financial Institutions from De La Salle University in 1979. He earned his Master of Business Administration degree from Kellogg School of Management, Northwestern University, Illinois in 1983. Mr. Purisima completed the Harvard Business School’s CEO Harvard Presidents’ Seminars in 2023 and 2024. He was a recipient of Centenary Award of Excellence by the Professional Regulatory Board of Accountancy on the occasion of the 100th year of the Philippine accounting profession in 2023. He was conferred a Knight in the National Order of the Legion of Honour by the French Republic (Chevalier dans l’Ordre National de la Legion d’Honneur) in 2017. In 2016, Purisima was awarded the Order of Lakandula with the rank of Grand Cross (Bayani) for his contributions to the Philippine economy. The Order of Lakandula is one of the highest civilian honors conferred by the President of the Republic of the Philippines and the Chevalier de l’Ordre national du Merite (Knight of the National Order of Merit) by the President of the French Republic in 2001.
Directorship in other publicly listed companies:
Independent Director of Ayala Corporation, Universal Robina Corporation, Jollibee Foods Corporation, and Bank of the Philippine Islands
SURENDRA MENON, Singaporean, 65
Independent Director since April 26, 2023
Committee Membership:
Skills and experience:
He is the Partnership Distribution Director of PT. AIA Financial having been appointed March 7th, 2023. Prior to his current role, Mr. Menon was the Chief Executive Officer of BPI AIA Life Assurance Corporation also the Regional Head, Bancassurance Group Partnership Distribution of the AIA Group from 2012 to 2016. He served as Vice President Director and Chief Distribution Officer, Director Bancassurance from and Vice President Business Development AIA Financial (formerly known as AIG Life and AIG Lippo) for the period beginning 2003 to 2016. He was the Vice President, Bancassurance from 1999 to 2003 of DBS Bank – Singapore. He was also the Company Head/Advisor to Owner of PT Binadaya Nusaindah (BDNI Life) (currently called Equity Financial) from 1991 to 1999 while he was Head/Advisor Dana Pensiun Lembaga Keuangan BDNI Bank from 1994 to 1998 PT Bank Dagang National Indonesia (BDNI), and Director of PT GTAsset Management of BDNI from 1995 to 1998. He held various positions at The Insurance Corporation of Singapore (now Aviva Singapore) from 1982 to 1991. He obtained his Bachelor of Arts degree majoring in actuarial sciences from Macquarie University in 1981. He became an Associate in financial planning and a member of the Financial Planning Association of Singapore in 2000. He has been a Penasehat Investor (Investment Manager’s License) of BEPEPAM (Indonesian Stock Exchange) since 1995. He completed an Advance Life Assurance Course from Munich Re in 1985 and obtained a Certificate in Actuarial Techniques from the Institute of Actuaries (London) in 1993. As a Singaporean he served National Service as a Police inspector from 1977 to 1979 and was a reservist Captain in the Singapore Civil Defence Force until 2008.
Directorship in other publicly listed companies:
None
DANIEL GABRIEL M. MONTECILLO, Filipino, 68
Independent Director since April 26, 2023
Committee Membership:
Skills and experience:
He was the Executive Vice President and Group Head of Corporate Clients of the Bank of the Philippine Islands from 2015 to 2018. Immediately prior to this role, he was President of BPI Capital Corporation. Prior to returning to the Philippines, he was also the Chief Executive Officer (CEO) of Diamond Dragon Advisors and CEO of Fidelis Holdings, the international real estate subsidiary of ALI and Ayala Corporation. He has 21 years of international investment banking experience, having worked at Bankers Trust Company in New York and at Credit Suisse and Morgan Stanley in Hong Kong. He is an independent director of Metro Pacific Health (hospital management), Maybank Investment Banking Group (investment banking) a subsidiary of Maybank Malaysia, and Marsh Philippines Inc., a subsidiary of Marsh & McLennan, where he serves as Chair of the Corporate Governance, Sustainability, Risk and Audit Committees. He is also on the global board of directors of International Care Ministries and the United Nations Global Compact Network (Philippine chapter). He is a certified coach (ACC designation from the International Coaching Federation), a fellow of the Institute of Corporate Directors (ICD), an associate member of the Singapore Institute of Directors, a leadership development speaker and facilitator, and a former senior consultant to the International Finance Corporation and to private Philippine companies. He obtained his Master of Business Administration and Master of Arts from Stanford University. He obtained his Bachelor of Science in Management of Financial Institutions and Bachelor of Arts in Behavioral Sciences (magna cum laude) from De La Salle University.
Directorship in other publicly listed companies:
Independent Director of the Bank of Commerce and RASLAG Corporation